Chevron Acquires New Offshore China Acreage: Co announced that its China subsidiary has entered into production sharing contracts with China National Offshore Oil Corporation (CNOOC) for two exploration blocks in the South China Sea's Pearl River Mouth Basin. During the exploration phase Chevron China Energy Company will be the operator of the two shallow water blocks, which in total cover an area of approximately 2,233 square miles (5,782 square km). "Exploration of these blocks builds on our strategy to grow our business across the Asia Pacific region, where we are developing LNG, deepwater, shale and sour gas resources," said George Kirkland, vice chairman, Chevron Corporation.CVX continues to rise in price. COP and XOM pretty much flat today.
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Meanwhile, over at SeekingAlpha: CLR with lots of debt. And yes, lots.
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